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Trading Forex and derivative markets overseas legally
12-Oct-2023 (In Corporate Law)
Fema prohibits indian residents from remitting money overseas for the purpose of trading in Forex and Derivative markets abroad. Is there any alternative legal way through which one can trade international forex markets being indian resident ?
Specifically, how about setting up a company abroad, and trading in the name of compnay , does it still vioate FEMA ? when you bring the profits back to india do you have to show the nature of transactions of the company ?
Hi, I am sure that you are well aware of the FEMA Regulations. Please note that anyone found to be violating the rules and instructions, shall be penalized under FEMA 1999. The person shall also be penalized for violation of KYC policy and money laundering standards. All these transactions are declared to be non permissible under FEMA including foreign currency, remittances marginal trading or exchanges are also punishable.
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Adv. Rajesh Kumar K
Bangalore | 400+ Answers
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